India's ICICI Pru Life IPO to raise $244 mln from anchor investors

September 16, 2016 7:31 PM

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MUMBAI, Sept 17 ICICI Prudential Life Insurance Co Ltd, which is due to launch on Monday India's biggest initial public offering of shares in six years, is raising 16.35 billion rupees ($243.7 million) by selling shares to 38 anchor investors as part of the IPO.

The IPO, which will see the insurer's parent ICICI Bank selling an about 12.63 percent stake, aims to raise as much as 60.57 billion rupees. The sale opens for public subscription on Monday and will continue until Wednesday.